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Putin Visits Khabarovsk: Discusses Far East Development and Future Economic Prospects

Russian President Vladimir Putin visited Khabarovsk for discussions on the development of the Far East. The talks covered logistics, border facilities, and tourism promotion, with Putin expressing optimism about Russia's economy.

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Putin Visits Khabarovsk: Discusses Far East Development and Future Economic Prospects

On a landmark visit to Khabarovsk, Russian President Vladimir Putin engaged in pivotal discussions with regional business representatives at Pacific State University, addressing the development of the Far East. The talks encompassed an array of topics, ranging from logistic challenges and the modernization of border facilities to the promotion of tourism in the region.

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Projected Economic Growth

Amid these discussions, President Putin expressed optimism about Russia's economic performance. He stated that the country's GDP growth is projected to exceed 4% by the end of this year. In terms of purchasing power parity, Russia has surpassed Germany to become the leading economy in Europe, and now holds the fifth position globally.

Challenges and Opportunities

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Despite the international pressure Russia faces, Putin acknowledged the need for further progress on a per capita basis. Reflecting on the initial skepticism surrounding the development programs for the Far East, he noted that significant progress is now evident - an observation he finds encouraging. He also addressed monetary policy intricacies, mentioning that the Central Bank's key interest rate is set to change as inflation is brought under control. However, Putin warned that increasing funding or subsidies for Far Eastern territory residents could undermine efforts to manage inflation.

Commitment to Development

The president committed to discussing with Mikhail Degtyarev, the governor of the Khabarovsk Territory, ways to improve logistics for exporting goods to China and to enhance border crossings in the Far East. The development of tourism in the region was also a crucial point of discussion. This visit follows Putin's initial trip to Chukotka, marking a renewed commitment to the growth and development of Far Eastern cities.

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